Sensex opens negative at 17,402.24 pts

Mumbai, Oct 9: The Bombay Stock Exchange (BSE) sensitive index today opened low at 17,402.24 points with a loss of around 90 points from its last close of 17,491.39 points on profit booking by FIIs and domestic financial institutional investors.

Brokers said that '' Market recovers from early slide to trade in the green. IT stocks extended gains. Larsen&Tobro hit all-time high. Mid-cap and Small-cap indices underperformed sensex. Reliance Industries edged higher. Market breadth was negative.

Later, the BSE 30-share Sensex was up by 111.24 points, or 1.24 per cent (pc), to 17,602.63 points. It opened with an downward gap of 89.15 points at 17,402.24 and soon declined to hit intra-day low of 17,287.19. At day's low of 17,287.19. sensex hit a high of 17,617.10 so far during the day.

The broader based S&P CNX Nifty of NSE was down by 0.9 points, or 0.02 pc, to 5,084.20. It had hit a low of 5000.95 in early trade.

Before it resumed low at 5062.65 points against the previous day's close of 5085.10 points.It recorded a high at 5102.10 points in intra day trade.

IT stocks extended gains today ahead of the Infosys result announcement on October 11, 2007. Infosys was up 0.68 pc to Rs 2,014,followed by TCS up by 1.09 pc to Rs 1,090.30, Satyam Computer Services by 0.65 pc to Rs 458.45 and Wipro by 0.18 pc to Rs 470.50.

HDFC rose 1.17 pc to Rs 2,487 and was the top gainer from the Sensex pack. ICICI Bank (up 0.96 pc to Rs 1,026.10) and ACC (up 0.79 pc to Rs 1,123.90) were the other major gainers from Sensex pack.

NTPC was down 2 pc to Rs 200.55, followed by Ranbaxy Laboratories by 1.46 pc to Rs 406.30,Cipla by 1.41 pc to Rs 185.25, Ambuja Cements by 1.38 pc to Rs 143.10 and ITC by 1.34 pc to Rs 176.10 were major losers from Sensex pack.

Larsen&Toubro (L&T) rose 0.48 pc to Rs 3,035 after it announced that Indian Oil Corporation (IOC) has awarded an order valued at Rs 693 crore to the company. It hit an all-time high of Rs 3,055 today.

Asian markets, which opened before the Indian markets, were trading mixed today. Taiwan's Taiwan Weighted index was down 1.04 pc to 9,616.05, Hong Kong's Hang Seng also down 0.13 pc to 27,734.22 edged lower. Singapore's Straits Times was up 0.48 pc to 3,838.49 and Japan's Nikkei also up 0.7 pc at 17,184.06 brokers added.

American markets traded mixed on October 8,2007. The Dow lost 22.28 points, on the day, closing at 14,043.78. Nasdaq Composite rose 7.07 points, to close at 2,787.37, brokers added.

Asian markets were trading mixed. American markets closed on a mixed note on Monday, 8 October 2007.

UNI